NERI Housing inBrief
Posted on May 14, 2014 by Daragh McCarthy
Housing and Ireland’s Economic Recovery
Housing has been one of a number of issues that has sat at the core of Ireland’s recent economic collapse. The very expensive lessons of recent years must not be lost; excessive house prices were not good news for the economy or society generally. The latest NERI Research inBrief , published today, focuses on the role housing can and will play in Ireland’s emerging economic recovery. In it the authors (Micheál Collins and Daragh McCarthy) make three key points:
First, housing is an important part of the economy.
Second, housing should be an important part of the recovery.
Finally, they suggest that Ireland needs to enter a new era for housing and housing policy; one where the primary and dominant role for housing is seen as providing accommodation rather than easy and excessive capital gains.
The key points highlighted in the publication are:
- There are approximately 50,000 unemployed or underemployed workers who are likely to regain employment in the housing sector as it recovers and returns to levels equivalent to European norms.
- As a return to normal conditions is awaited, there is merit in Government investing in a new social housing programme which would simultaneously address social housing waiting lists and in the short-term boost activity, output and employment in the housing sector.
- A new era for housing policy is required. It must be one where the primary and dominant role for housing is seen as providing accommodation rather than easy and excessive capital gains.
The new NERI Research inBrief is available here.